SD property and casualty exam questions with correct answers

Which of the following is not a coverage extension under the Building and Personal Property Coverage Form? CORRECT ANSWER Inflation guard (this is an OPTIONAL COVERAGE) Which term describes the equal sharing of a loss by two or more insurers until the loss is paid, or until each insurer has exhausted its limits of insurance, whichever comes first? CORRECT ANSWER Contribution by equal shares Choose the physical damage claim that would be covered under the Personal Auto Policy. CORRECT ANSWER Malicious mischief to the tires When firefighters extinguish a house fire with water, the water damage is considered a(n): CORRECT ANSWER DIRECT loss In Surety bonding, the party to whom the surety is answerable is the: CORRECT ANSWER Obligee (whose party the benefit the bond is written) Which of the following would not be covered under Section II of the Homeowners Policy? CORRECT ANSWER Property damage to property owned by an insured (section II is about insurance for loss of third party) Livestock does not include which of the following animals? CORRECT ANSWER Poultry